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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #50,321
  • Nov 15, 2007 2:01am Nov 15, 2007 2:01am
Quoting karmostaji
IMO price still needs to touch the weekly 5sma which 233.xx , today might be a bull's day, I'll go long once 1H QQE crosses upwards and a candle is formed above the gann hilo.
Hi Karm. I hope you're right, I'd prefer to go long today. What's your reasoning behind the weekly 5sma retrace, though?
  • #50,322
  • Nov 15, 2007 2:04am Nov 15, 2007 2:04am
Quoting Pips_Cruiser
Hi Karm. I hope you're right, I'd prefer to go long today. What's your reasoning behind the weekly 5sma retrace, though?
The momentum was indicating that price should touch it or get atleast close to the weekly 5sma, plus the 4H QQE is still crossed upwards, so bulls are quite strong, just waiting for 1H QQE to cross up n go long.. most likely TP will be 233 which is also close to the 61.8% fibo from the last fall

4H QQE might come back n cross down after it touches the 50 line.
Trade what you see, not what you think.
  • #50,323
  • Nov 15, 2007 2:09am Nov 15, 2007 2:09am
Quoting karmostaji
IMO price still needs to touch the weekly 5sma which 233.xx , today might be a bull's day, I'll go long once 1H QQE crosses upwards and a candle is formed above the gann hilo.

Hi Karm,

When you say the 1hr QQE to cross, do you mean when both lines cross the 50 line with the blue line on top??. Are the QQE settings for the 1hr smoothing and 5.

Thanx

Paddy
Live Long and Prosper How GOOD are the NE Patriots ??
  • #50,324
  • Nov 15, 2007 2:11am Nov 15, 2007 2:11am
Quoting Paddy
Hi Karm,

When you say the 1hr QQE to cross, do you mean when both lines cross the 50 line with the blue line on top??. Are the QQE settings for the 1hr smoothing and 5.

Thanx

Paddy
Yes smoothing and 5.

I mean when the blue line crosses the slow RSI line, if it gets above '50' , it means bulls are stronger I think, that's all.
Trade what you see, not what you think.
  • #50,325
  • Nov 15, 2007 2:14am Nov 15, 2007 2:14am
Quoting karmostaji
Yes smoothing and 5.

I mean when the blue line crosses the slow RSI line, if it gets above '50' , it means bulls are stronger I think, that's all.

Thanx Buddy
Live Long and Prosper How GOOD are the NE Patriots ??
  • #50,326
  • Nov 15, 2007 2:17am Nov 15, 2007 2:17am
Quoting karmostaji
The momentum was indicating that price should touch it or get atleast close to the weekly 5sma, plus the 4H QQE is still crossed upwards, so bulls are quite strong, just waiting for 1H QQE to cross up n go long.. most likely TP will be 233 which is also close to the 61.8% fibo from the last fall

4H QQE might come back n cross down after it touches the 50 line.
I just checked the daily pivot, and it's 229.71 now. So price is about 100 pips below that. The 1hr QQE is bearish (barely), and the 15min indicators are mixed, but mostly bearish. I still see things leaning toward the bearish side, but they don't look very strong. Lots of borderline stuff.

On the other hand that 4hr QQE packs a strong punch, and if price starts rising I think it has the potential for more pips than a downswing does today. So I still have a bearish bias since that's what I'm seeing, but a bullish preference because that could be more profitable. We might have to let the news lead the way.

  • #50,327
  • Nov 15, 2007 2:23am Nov 15, 2007 2:23am
Quoting Pips_Cruiser
I just checked the daily pivot, and it's 229.71 now. So price is about 100 pips below that. The 1hr QQE is bearish (barely), and the 15min indicators are mixed, but mostly bearish. I still see things leaning toward the bearish side, but they don't look very strong. Lots of borderline stuff.

On the other hand that 4hr QQE packs a strong punch, and if price starts rising I think it has the potential for more pips than a downswing does today. So I still have a bearish bias since that's what I'm seeing, but a bullish preference because that could be more profitable. We might have to let the news lead the way.

I believe you are correct. Looks like we have some consolidation until the retail sales comes out at 2:30 GMT (4:30 am Est)

"The Bank of England inflation report weakened Sterling sharply on Wednesday and the retail sales report will be very important for near-term direction on Thursday as a weak set of data would reinforce the mood of pessimism.

The latest surveys have generally suggested that consumer spending is subdued with the British Retail Consortium (BRC) reporting that October sales weakened to an 11-month low. Consumer confidence has weakened slightly, although it appears resilient."
  • #50,328
  • Nov 15, 2007 2:32am Nov 15, 2007 2:32am
i think if there is a chance for bullish today we need to penetrate these lines
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  • #50,329
  • Nov 15, 2007 2:33am Nov 15, 2007 2:33am
thanx Pips_Cruiser
i'e got my own made strategy as well which i'll be sharing it with u guyz soon

don't see any big move before gbp news think if it breaks through and close above 229.40 or under 227.75 we're gonna have some good moves along side?!! not sure wut u think guys?!!!!!
  • #50,330
  • Nov 15, 2007 2:44am Nov 15, 2007 2:44am
Quoting salghxxx
thanx Pips_Cruiser
i'e got my own made strategy as well which i'll be sharing it with u guyz soon

don't see any big move before gbp news think if it breaks through and close above 229.40 or under 227.75 we're gonna have some good moves along side?!! not sure wut u think guys?!!!!!
It might need a little more upside than 229.40 to convince me, but not much. If price breaks out either direction after news, it should keep going long enough to keep everyone happy. Let's hope there's some kind of surprise, either way!

  • #50,331
  • Nov 15, 2007 2:55am Nov 15, 2007 2:55am
a little more down n then up.
Trade what you see, not what you think.
  • #50,332
  • Nov 15, 2007 2:58am Nov 15, 2007 2:58am
I hope you guys can see that gap on GU, it is a rather big one, and INMO it needs to close before we head decisively lower on GJ, today might be choppy. If this is a runaway gap, than it may not close, but runaway gaps on Dailies are extermely rare, the last I know is on euro back around parity level. So that said, I would watch for this thing to get filled as an indication that the road down has been cleared of any roadblocks. If on another hand 2.0500 gets decisively broken than all bets are off. In the menatime I'm favouring a last spike up to close this nasty looking hole, that would be a great place to go short.
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  • #50,333
  • Nov 15, 2007 3:14am Nov 15, 2007 3:14am
Hi Karmo. I would just like to ask if you enter as soon as a candle crosses the gann if the QQE is already crossed upwards. Cause with the volatility this past few days Im kinda worried that if I don't enter on a retracement my usual 60 pip stop loss could get hit fast.
Quoting karmostaji
IMO price still needs to touch the weekly 5sma which 233.xx , today might be a bull's day, I'll go long once 1H QQE crosses upwards and a candle is formed above the gann hilo.
  • #50,334
  • Nov 15, 2007 3:17am Nov 15, 2007 3:17am

Did the news leak out earlier than timed?
Guppy dear fell down from the Tower of Pisa....

  • #50,335
  • Nov 15, 2007 3:39am Nov 15, 2007 3:39am
225 here we come!

Longs maybe tommorrow.
  • #50,336
  • Nov 15, 2007 3:42am Nov 15, 2007 3:42am
its bouncing off 23.6% fib from bigger drop (july - august)
  • #50,337
  • Nov 15, 2007 3:50am Nov 15, 2007 3:50am
Quoting uncleforex
225 here we come!

Longs maybe tommorrow.

really???

are you sure?
  • #50,338
  • Nov 15, 2007 3:51am Nov 15, 2007 3:51am
yep.. 226.87 acting strong support close below is good for shorts..
  • #50,339
  • Nov 15, 2007 3:52am Nov 15, 2007 3:52am
amazing this will help GBP/JPY to go more down . i think we will see 224-224.50 lets just wait for daily closing.
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  • #50,340
  • Nov 15, 2007 4:04am Nov 15, 2007 4:04am
Now 225 doesn't seem that far
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